NAPCO Announces 2-For-1 Stock Split; Increase In Authorized Shares

NAPCO Security Technologies, Inc. (NSSC), manufacturer and designer of electronic security devices and wireless communication services on Tuesday announced a 2-for-1 stock split. As a result of the stock split, shareholders will receive one additional share of common stock for every one share held on the record date. Upon completion of the split, the total number of shares outstanding will increase from 18,353,584 to 36,707,168.

The stock split, to be paid in the form of a 100 percent stock dividend would be payable January 4, 2022 to all NAPCO shareholders of record (other than Treasury Shares) as of December 20, 2021.

In addition, the shareholders have on Monday approved an amendment to the certificate of incorporation to increase the number of shares the company is authorized to issue, from 40,000,000 to 100,000,000 shares of common stock, $.01 par value by share.

Shares of Napco Security Technologies closed Monday's trading at $47.40, up $1.29 or 2.80 percent from previous close.

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